CCTV.com - CNTV English - CCTV News

Brazilian think tank calls for stronger economic ties with China

04-09-2011 10:15 BJT

BRASILIA, April 8 (Xinhua) -- Brazil should seize the opportunities created by China's rapid development and expand economic relations with the Asian giant, an influential research group said here Friday.

The call for broader Brazil-China cooperation from the Institute of Applied Economic Research (IPEA), a body linked to Brazil's presidency, came days ahead of President Dilma Rousseff's state visit to China next week.

The strong growth of bilateral trade and the recent increase of the Chinese investment in Brazil helped reduce the country's external vulnerability and enhance local businesses' competitiveness, the group said in the report of a study co-sponsored by the country's foreign ministry.

Currently, China is Brazil's largest trade partner, largest export market and second largest source of imports, noted economist Eduardo Costa Pinto, a coordinator of the study program.

In the past 10 years, China absorbed around 15 percent of Brazil's total exports, he said, adding that his country had a trade surplus of 5.1 billion dollars in the bilateral balance last year and would continue to have favorable balances in the coming years.

Meanwhile, the IPEA report stressed that the two countries' cooperation in various fields could bring benefit to both sides. Citing technological collaboration, it said that Brazil could help China in the fields of oil, energy, minerals and nutrients, while China could be contributive in such areas as aerospace and clean energy.

In the financial sector, the establishment of greater links between the Chinese and Brazilian institutions, such as their development banks, could help bring more Chinese investment into the South American country, it added.

With the China-led collective rise of the developing countries, Brazil also has a chance to play a more active role on the world stage, such as in the efforts to improve global governance and reform international institutions, the report noted.

During Rousseff's April 11-15 stay in China, the Brazilian president is also to join leaders of Russia, India, China and South Africa in a BRICS summit for talks over the international situation, the global economy, development issues and cooperation among the five economies.

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program